3 Top Tech Stocks Ready for a Bull Run

Even in a bullish sector, the bull runs of various stocks may be radically different. Some might experience only a modest growth while others may shoot up rapidly.

| More on:
A bull outlined against a field

Image source: Getty Images.

The tech sector enjoyed a decent bull market in 2023 up until now, but the trend has shifted in the last few weeks. It’s too soon to tell whether it’s a trend shift or a temporary dip. But even if the sector isn’t lucrative as a whole, there are several tech stocks ready for a healthy bull run (or are already experiencing one). Three of them should be on your radar.

A newcomer to TSX

Lumin Group (TSXV:LMN) joined the junior market in March 2023, though it has been operating since 2013. It’s an acquisition-oriented company that focuses on communication and media companies. It has a portfolio of 25 businesses hailing from and operating in different countries.

The young stock is trading at a 24% premium to the price it listed, though the current upward momentum can be attributed to the sector-wide positive trend. But the stock’s strengths may be enough to carry it forward. Its financials are healthy, and even though the debt is sizable enough, it’s a decent number for an acquisition-oriented company.

The diverse portfolio and some future-oriented acquisitions (i.e., companies focused on artificial intelligence, or AI) can help the company grow organically in the future.

An e-commerce company

The e-commerce stocks in Canada experienced a massive slump after a meteoric rise during the pandemic. Lightspeed Commerce (TSX:LSPD) was no exception and has lost over 86% of its market value from the 2021 peak.

Even though the stock experienced multiple upticks along the way, none were enough to change the course of the stock for the long term. However, there are still reasons to believe in an upcoming bull run.

One reason to be hopeful about Lightspeed Commerce’s upcoming bullish phase is Shopify’s compelling growth in 2023. While the two operate in different domains, the lead e-commerce stock’s performance can do a lot to create optimism in the market.

The company’s finances are improving in the sense that the operating losses are lowering, and even though it’s a modest improvement, it may contribute to an upcoming bull run.

A real estate-oriented tech stock

Real Matters (TSX:REAL) developed a platform to help two stakeholders of the real estate industry: mortgage lenders and insurance providers. The platform allows the business entities in these two real estate segments to connect with field agents and other real estate stakeholders efficiently. The network of field agents this platform supports is one of its core strengths.

The company operates in both Canada and the US, though the bulk of the revenue is generated from its U.S. business segments. The financials of the company are steadily improving, and even though it’s still not in the green yet, it’s getting there. The stock is already going through a strong bullish phase, and its improved financial position and minimal debt may help it keep sailing for a relatively long time.

  • We just revealed five stocks as “best buys” this month … join Stock Advisor Canada to find out if Real Matters made the list!

Foolish takeaway

The three tech stocks are either bullish or poised for a bull run. Making a purchase decision now can help you benefit from a substantial portion of this bullish phase. But that will only happen if you exit at the right time.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Real Matters and Shopify. The Motley Fool recommends Lightspeed Commerce. The Motley Fool has a disclosure policy.

More on Tech Stocks

Lady holding mobile phone and shopping bags
Tech Stocks

The Ultimate Growth Stock to Buy With $1,000 Right Now 

Here's why Shopify (TSX:SHOP) could be the ultimate growth stock long-term investors want to consider at this current point in…

Read more »

Hands shaking over a business deal
Tech Stocks

Meet the Growth Stock I Can’t Stop Buying This Year

Topicus stock (TSXV:TOI) has been a top growth stock this year, with strong finances, a stable acquisition strategy, and more…

Read more »

grow dividends
Tech Stocks

Celestica Stock Is up 44% Since Earnings: What Investors Need to Know

Celestica continues to benefit from strong demand and production efficiencies, yet the stock remains undervalued.

Read more »

healthcare pharma
Tech Stocks

What’s Going on With WELL Health Stock?

WELL stock (TSX:WELL) made strong moves once again, with record earnings and even higher guidance for 2024.

Read more »

A shopper makes purchases from an online store.
Tech Stocks

3 Reasons to Buy Shopify Stock Right Now

Based on these three top reasons, Shopify (TSX:SHOP) stock appears undervalued to buy right now.

Read more »

stock research, analyze data
Tech Stocks

What’s Going on With Lightspeed Stock?

Lightspeed (TSX:LSPD) stock has been climbing once more but is still far from its three-digit share price. So, is it…

Read more »

Target. Stand out from the crowd
Tech Stocks

Missed Out on Nvidia Stock (Again)? Buy Descartes Instead

Nvidia (NASDAQ:NVDA) stock soared yet again after earnings, passing the four-digit mark. But with shares so high, maybe this option…

Read more »

Group of people network together with connected devices
Tech Stocks

This Is the Best Overlooked AI Stock on the TSX Today

This AI stock has been a top growing in the last while, but remains overlooked despite its strong portfolio and…

Read more »